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Should We Be Wary of Price Fluctuations Based on Germany's Consumer Price Index (Preliminary Figures)?

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Should We Be Wary of Price Fluctuations Based on Germany's Consumer Price Index (Preliminary Figures)?

30.08.2022

Today's Highlights
  1. U.S. Consumer Confidence Index
  2. Germany: Consumer Price Index (Preliminary Figures)

In yesterday’s U.S. currency trading, the U.S. dollar weakened as the yield on the 10-year U.S. Treasury note fell from 3.1%. The EUR/USD pair rebounded by approximately 120 pips from 0.9913 to 1.0027, moving above the 20-period moving average (MA) on the 4-hour chart.During today’s Asian session, the pair continues to test higher levels. Since it is currently at a level that coincides with the 200-period simple moving average (SMA), we will be watching closely to see if it can break above the 200-SMA during the European session.

European currencies saw the euro face less upward pressure as natural gas prices fell, and the euro/Australian dollar pair rose from 1.4442 to 1.4557.As the pair continues to test the upside during today’s Asian trading session, we will be watching closely to see if the rally continues. Additionally, since Germany’s preliminary consumer price index is set to be released today, we should be mindful of any price fluctuations triggered by the preliminary data.

Today’s economic indicators include the Swiss KOF Leading Index at 16:00, UK mortgage approvals and UK consumer credit balances at 17:30, the German Consumer Price Index (flash estimate) at 21:00, remarks by U.S. Richmond Fed President Barkin,at 21:30, Canada’s Q2 Current Account; at 22:00, the U.S. S&P/Case-Shiller Home Price Index; at 23:00, the U.S. Consumer Confidence Index; and at 24:00, remarks by U.S. Federal Reserve Bank of New York President Williams.We should be on the lookout for price fluctuations caused by the German Consumer Price Index (flash estimate).

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

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